Small business owners have enough to worry about right now. And government red tape – pandemic or not – is always one of them.
However, this week we learned in a new survey from SurePayroll that small business owners are worry about red tape that doesn’t even exist.
In this survey, the popular payroll company found that 45% – yes, nearly half – of small business owners say they’re familiar with payroll regulations that aren’t even real regulations.
Don’t blame yourself for this. As we said, there’s already enough on your plate and there’s plenty of red tape to get hung up on. But this should be a reminder to keep on top of changing regulations on a regular basis. And if you don’t have time to stay current on regulations yourself, you may need to assign someone in your company to do that for you.
In the end, you’d hate to find out that you stayed up late or dedicated resources to complying with regulatory rules that never even existed.
For more news that matters most to small business owners, check out our weekly roundup below:
Small Business News Roundup – July 24, 2020
45% of Small Business Owners Familiar with Payroll Regulations that Don’t Exist
A survey by SurePayroll, included in its 2020 Payroll and Taxes Regulations Report, revealed some surprising findings regarding how well small business owners understand payroll regulations and the mistakes they make when running payroll for their employees. One of the most noteworthy is that 45% of respondents claimed to be familiar with regulations that don’t even exist.
66% of Americans working from home say they are likelier to work nights and weekends than prior to working remotely. 19% of home workers admit to starting earlier and finishing later since working during quarantine. These statistics were unveiled by JDP’s ‘Working From Home During the Pandemic’ study.
The coronavirus pandemic has forced businesses to adopt to the homeworking model. Spending more time at home, the present climate is perfect for learning new skills. In these uncertain times, adding “another string to your bow” could be invaluable in navigating unchartered business waters.
A survey by LendingTree reveals up to 40% of small businesses in major US cities risk closing. between 24% and 40% of businesses in the nation’s 50 metropolitan areas risk closure if business doesn’t return to normal. The analysis based on the U.S. Census Bureau’s Small Business Pulse Survey foreshadows a tough summer for small businesses.
As many as 40% of Americans say they are considering moving to a less populated area because of Covid-19. And 31% of US citizens say they are thinking about moving to somewhere with lower living costs. People in the West, younger generations, and higher earners are more likely to want to move. These statistics were unveiled by a study by Fast, an ecommerce payment startup.
The American Institute of Certified Public Accountants (AICPA) and Biz2Credit announced the launch of a Paycheck Protection Program (PPP) loan forgiveness platform. The platform, PPPForgivenessTool.com, helps automate the forgiveness process for small business owners who have received PPP funds.
Small business owners need technologies that allow them to pivot to remote work, staying secure. To help them, Verizon launched The Small Business Hub. Small businesses need financial assistance, and also need more than that.
InstaPay has launched a new service designed to help Amazon sellers grow their business. The service allows sellers to receive quick and efficient payments on a daily basis. InstaPay is a fintech platform for the ecommerce industries. With InstaPay, third-party sellers on Amazon receive payment automatically every day. The service pays sellers 50% to 80% of the net sales volume.
It has been a difficult transition to having staff members go from the office to working from their homes. Leaders were used to their team being all in one place and everyone knew the rules when you were at the office.
The Samsung A71 5G UW launched on July 16. Starting at $649, the device is hailed as Verizon’s cheapest 5G smartphone to date. The A71 5G UW boasts a 6.7-inch Super AMOLED infinity display, Quad Cameras, and a long battery life.
If you think all of your employees love working from home, you might be having the wrong idea. As authorities are relaxing lockdown restrictions, many employees are looking forward to returning to the office post the Covid-19. According to the latest survey from Hibob, 36% of employees prefer to work from the office. And 43% of employees would like to return to the office once or twice a week.
This article, “In the News – Small Business Owners Stress Over Regulations That Don’t Exist” was first published on Small Business Trends
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